SEOUL, South Korea, March 22 (Korea Bizwire) – South Korean TV shopping network Lotte Home Shopping recently experienced firsthand the surge in the popularity of electric cars when it aired a special program last Friday featuring electric cars for lease. During the hour-long broadcast, the network saw more than five thousand customers call in to [...]
SEOUL, March 22 (Korea Bizwire) – South Korea’s top power utility firm Korea Electric Power Corp. (KEPCO) is interested in participating in a British nuclear plant project, its chief said Wednesday. KEPCO is rumored to have been in talks with Japan’s Toshiba and French utility company Engie on buying a stake in their multi-billion dollar [...]
SEOUL, March 20 (Korea Bizwire) – SK Engineering & Construction (SK E&C) has teamed up with a Turkish firm for a multi-billion-dollar project to build and operate new power plants in Iraq, the South Korean firm said Saturday. Officials from the South Korean builder said the company has successfully purchased a 30 percent stake in UNIT International S.A., Turkey’s energy giant, one day after the two [...]
SEOUL, March 14 (Korea Bizwire) – Doosan Heavy Industries & Construction Co., South Korea’s top power equipment maker, said Tuesday that it has bagged a 300 billion-won (US$262 million) deal to upgrade an existing power plant in Indonesia. Under the deal with the state-run Indonesian PLN, Doosan Heavy and a state-run Indonesian construction firm will [...]
SEOUL, March 13 (Korea Bizwire) – Carbon emissions trading is growing in South Korea as more companies are compelled to abide by the government’s scheme to reduce carbon-dioxide emissions, but many businesses fear they won’t meet emissions targets this year. Companies are required to have any emissions excess deducted from their permitted amount for the [...]
DAEJEON, March 9 (Korea Bizwire) – In a bid to better prepare for unforeseen accidents at nuclear power plants in South Korea, the Korea Atomic Energy Research Institute said Wednesday that it is developing a Nuclear Blackbox to monitor in real time nuclear reactors from a safer distance, and a vehicle-based remote control system to [...]
CHANGWON, March 8 (Korea Bizwire) – The Changwon municipal government will launch a series of hydrogen car projects in a bid to promote the use of alternative fuel vehicles, starting with the opening of a hydrogen station tomorrow. Changwon is the latest city in South Korea to join the recent trend of encouraging the use of [...]
SEJONG, March 7 (Korea Bizwire) – South Korea’s state-run energy resource companies will move forward with their restructuring efforts this year as part of the government-led plan to streamline operations in the midst of low global oil prices, the commerce ministry said Tuesday. At a meeting convened by the Ministry of Trade, Industry and Energy [...]
SEOUL, March 6 (Korea Bizwire) — Calls are growing for insurance that protects tree owners in the wake of recent incidents of natural disasters. According to Forestry Cooperative in Korea and Korea Forest Service, there’s currently no agricultural disaster insurance coverage in South Korea for tree owners in case of natural disasters such as [...]
POHANG, Feb. 15 (Korea Bizwire) – Electricity generated from geothermal energy will soon be distributed to South Korean households for the first time in history. The electricity will come from Pohang, a city on the southeast coast of the Korean Peninsula, which has been making use of geothermal energy some four kilometers below the surface [...]